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First Premier Lending Loans Up to $20,000 with No Credit Check
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By : Mr Credit Card

First Premier Lending: A Loan Aggrgator

First Premier Lending is a loan aggregator that allows you to shop for short term loans just by filling in one online foam rather than approaching many lenders. It saves you time and you could get a loan in your checking account as fast as one business day.

First Premier Lending is part of OLA (Online Lenders Alliance), which represents companies offering loans online. OLA members have a list of best practices and Code of Conduct which they have to abide by to ensure customers are fully informed and treated fairly.


Loan Terms

A typical loan you would get from 1st Premier Lending network of lenders will range from $100 to $20,000 with maturities ranging from 2 to 72 months. APRs range from 5.99% to 35.99%. Payment frequencies are typically monthly. Below is a table summary of the key terms of a typical loan from a First Premier Lender.

Loan Amount $1,000 to $20,000
Maturity 2 - 72 Months
APR 5.99% - 35.99%
Payment Frequency Monthly
Origination Fees Varies
States Excluded AR and NY


Requirements and Qualifications

To get approved for loan from lenders, you will need the following:
  • Any Credit is welcome - First Premier Lending has lenders that accept all types of credit and there is no initial credit check.

  • Job or Regular Income - This is very important. If you do not have a job or regular income but have regular income like from social security, retirement or pension payments, it needs to be at least $1,000 a month.

  • Be a U.S. Citizen and a valid social security number

  • Valid Drivers License or State ID - Either of these will be needed to verify your ID.

  • Bank AccountYou do need a bank account to apply for the loan because this is how lenders will deposit your cash advance.

  • MetaBank Customers Are Not Eligible - If you are a Metabank customer (for example if you have their credit cards), you cannot apply for a loan from this network.


How Does the Loan Process Work?

To get started, all you need to do is to fill out a secure online loan request foam and submit. The information will be given to a network of lenders.

If you are approved by a lender, you will be presented with their offer and loan details in a document. If you agree to the terms and conditions, you will then e-sign the document (make sure you save a copy of your documents in a folder on your computer).

Once you e-sign and it is approved, the loan will be deposited into your bank account (typically within one business day).

It only takes a few minutes to fill up the foams and you could very well be approved in a few minutes later by a couple of lenders. Once you e-sign your docs, fund could be available as soon as the next business day.

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Pros and Cons

Pros

  • Income from Employment, Self-employment or Other monthly Income - Some loan networks only accept work income and not other income like benefits from social security. First Premier Lending allows non-work income but you need a minimum of $1,000 a month of income from these sources to qualify.

  • Process is Fast - The application process is fast, easy and relatively painless.

Cons

  • MetaBank Customers Are Not Eligible - If you are a customer of Metabank (ie you use their products like credit cards), you cannot apply for a loan through First Premier Lending.

  • Does Not Accept Applicants from AR and NY - First Premier Lending accepts applicants from all states except NY and AR.


Our Take

When you need emergency cash or longer term loans, you could go hunting around for online lenders or off-line lenders. It is a really tedious process. An aggregator like First Premier Lending simplifies the process. You just fill in the required information just once and many lenders have the chance to win your business. It makes the process really easy.

You just have to make sure you need their necessary requirements and you should be able to get a loan from a lender in their network. The only thing you have to be aware of is that if you are a Metabank customer, you are not eligible to apply. You have to find another network.


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